Notable Analyst Rating Changes 11/13: LVS, PTR, STZ Upgraded; GA, JCP, CTCM Downgraded

November 13, 2008 9:42 AM EST

UPGRADES:
Banc of America upgrades Las Vegas Sands (NYSE: LVS) from Sell to Neutral.

Citi upgrades PetroChina (NYSE: PTR) from Sell to Hold.

UBS upgrades Constellation Brands (NYSE: STZ) from Neutral to Buy, citing valuation after 52% slide in the last two months. UBS lowered their price target from $24 to $17.

For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades

DOWNGRADES:
Piper Jaffray & Co. downgrades Giant Interactive (NYSE: GA) from Buy to Neutral. Price target lowered from $11 to $6.

Morgan Stanley downgrades JC Penney (NYSE: JCP) from Overweight to Equal-weight

J.P. Morgan downgrades CTC Media (Nasdaq: CTCM) from Overweight to Neutral.

For daily real-time Downgrades go to http://www.streetinsider.com/Downgrades

NEW COVERAGE:
Goldman Sachs initiates coverage on Garmin Ltd. (Nasdaq: GRMN) with a Neutral rating.

Jefferies initiates American Express (NYSE: AXP) with an Underperform and a $17 target, citing higher funding costs and deteriorating credit performance.

J.P. Morgan initiates coverage on Atheros (Nasdaq: ATHR) with a Neutral rating.

For daily real-time New Coverage go to http://www.streetinsider.com/New+Coverage


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Stocks Mentioned

ATHR 29.79

+1.32 +4.64%
Volume: 1,959,695
Track ATHR

AXP 41.30

-0.53 -1.27%
Volume: 11,654,773
Track AXP

CTCM 14.14

+0.19 +1.36%
Volume: 1,174,689
Track CTCM

GA 7.14

+0.11 +1.56%
Volume: 196,950
Track GA

GRMN 29.62

-0.26 -0.87%
Volume: 3,318,067
Track GRMN

JCP 28.81

+0.07 +0.24%
Volume: 7,269,974
Track JCP

LVS 16.12

+0.80 +5.22%
Volume: 26,867,357
Track LVS

PTR 128.01

+3.11 +2.49%
Volume: 665,755
Track PTR

STZ 17.25

+0.14 +0.82%
Volume: 1,501,730
Track STZ


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